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Increase your income!

increasing incomeHow to increase your income? The idea is to look for ways within your life that you can build or expand your income streams. While some people will be drawn to entrepeneurship, others may want to stay withing the fram work of their office position.

Present your case for a raise or bonus! Too many people just go in and request a raise and are rejected. Determine and track your worth to your company in concrete numbers. Keep copies of commendation from managers, clients, and coworkers. Practice going over your presentation to make it persuasive to your manager and overcome any objections that may present.

Start a side business or income stream! Assess one service that you can offer with your current skill set and become a freelancer. For example, offer your accounting skills to local small businesses with bookkeeping. If you’re looking to get the word out, considering some low cost ways instead of spending a ton of money on a side project.

Sell your unused and rarely used items: to build a cushion.

The key with building income is having a few streams, even if they are small, to help you. Make sure though your income stream doesn’t overwhelm you. If necessary, simplify your finances, focus on 2 income streams and slowly build from there.

Some goals for the additional income can be:
-Saving for an emergency fund
-Pay off your high interest debt
-Give more to a charity/cause you support
-Help family & friends

Just make sure how you’re spending your money is a reflection of your values.